resTORbio, Inc. (NASDAQ:TORC) has earned an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.00.
TORC has been the topic of a number of recent research reports. Svb Leerink lowered resTORbio from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Zacks Investment Research lowered resTORbio from a “buy” rating to a “hold” rating in a research report on Wednesday. Cantor Fitzgerald lowered resTORbio from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $3.00 in a research report on Friday, November 15th. Guggenheim lowered resTORbio from a “buy” rating to a “neutral” rating in a research report on Friday, November 15th. Finally, Wedbush lowered resTORbio from an “outperform” rating to a “neutral” rating in a research report on Friday, November 15th.
NASDAQ TORC traded down $0.04 on Friday, reaching $1.46. The stock had a trading volume of 3,078,356 shares, compared to its average volume of 1,781,206. The firm has a market capitalization of $54.67 million, a price-to-earnings ratio of -0.82 and a beta of 2.57. resTORbio has a 12-month low of $0.94 and a 12-month high of $11.96. The stock has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $6.67.
In other news, major shareholder Puretech Health Llc sold 6,161,531 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $1.20, for a total transaction of $7,393,837.20. Following the sale, the insider now owns 2,119,696 shares of the company’s stock, valued at $2,543,635.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,415,016 shares of company stock worth $8,847,230 in the last ninety days. Corporate insiders own 13.90% of the company’s stock.
Several hedge funds have recently modified their holdings of TORC. Brave Asset Management Inc. grew its stake in shares of resTORbio by 52.0% during the fourth quarter. Brave Asset Management Inc. now owns 23,250 shares of the company’s stock worth $35,000 after purchasing an additional 7,950 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of resTORbio during the second quarter worth $146,000. Rhumbline Advisers grew its stake in shares of resTORbio by 12.4% during the third quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock worth $172,000 after purchasing an additional 2,159 shares in the last quarter. Millennium Management LLC acquired a new position in shares of resTORbio during the third quarter worth $346,000. Finally, Bank of New York Mellon Corp grew its stake in shares of resTORbio by 54.5% during the second quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock worth $464,000 after purchasing an additional 16,007 shares in the last quarter. Hedge funds and other institutional investors own 52.43% of the company’s stock.
resTORbio Company Profile
resTORbio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. Its lead program is targeting the selective inhibition of TORC1, an evolutionary conserved pathway that contributes to the decline in function of multiple organ systems, including the immune, cardiac, and neurologic systems.
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